It's no secret that craft beer is hot. The nearly $20 billion market has more than 3,400 breweries in operation, sending volume surging 18 percent and pushing its market share to 11 percent, according to Brewers Association figures.
With the industry's growth sizzling, a scramble is under way by some breweries to secure capital to fuel their growth. Lucky for one Los Angeles-based craft operation, it's no stranger to feeling the heat.
Fireman's Brew, started by a pair of firefighters, is hoping a private stock offering can help keep it on a steady growth path as it looks to keep pace with the rest of the fast moving industry. The company is aiming to raise $5 million dollars via the sale of four million shares of common stock at $1.25 per share, with a minimum purchase requirement of 4,000 shares for $5,000.
In total, the new round of funding would represent about 27 percent of the company, a sum that Fireman's Brew's leadership thinks is just right for its current needs.
"At some point we'd love to get private equity money but we're not yet in a position where we need $20 million," David Johnson, chief operating officer of Fireman's Brew, told CNBC in an interview. "We're raising a lower amount of money than a lot of private equity groups feel is worth it for them to even look at a deal."